The IRS can take all of the money in your bank or brokerage account to pay your tax debt. They can even serve a tax levy and seize your life insurance policy, your pension, or your IRA. If you have a business the IRS can contact your customers, tell them that you have an IRS tax debt, serve a tax levy and take your accounts receivable.

If the IRS serves a tax wage levy on your employer, not only is it a personal embarrassment but your employer is required to begin paying your salary to the IRS. Depending on the number of dependents you have you could be left with very little to live on. If your employer doesn’t pay the money to the IRS he could be held personally liable for your tax debt.

If your IRS tax debt is over $50,000, you can benefit from tax lawyers and tax attorneys reviewing your tax debt to decide on the best solution for you. Don’t wait until the IRS has served a tax levy on your wages or seized your bank account. Call attorney Mitchell A. Port now at (310) 559-5259 or contact him online to make an appointment and find out how a former IRS tax attorney can help.

SPOTLIGHT #1: The IRS - Income Tax Highlights Current tax policy is often a creature of history. To understand the origins of current tax laws, peruse a brief synopsis describing the development of the income tax over the last 150 years.